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Processing 2001 P19

  • 07/13/2001 -- FTC to hold public hearing on US gasoline price fluctuations
    The US Federal Trade Commission Thursday said it plans a public conference Aug. 2 that will examine why retail gasoline prices fluctuate so widely. The hearing, to be held at FTC headquarters in Washington, is open to the public. It invited interested parties to attend or to submit written presentations.
  • 07/13/2001 -- Market watch: Gasoline futures surge with diminished refining
    Gasoline futures prices surged Thursday on the New York Mercantile Exchange with reports that a few Gulf Coast refineries would temporarily reduce operations for routine maintenance.
  • 07/13/2001 -- TotalFinaElf buys 40 service stations in Italy from ENI
    TotalFinaElf SA is buying 40 AGIP and IP-branded service stations in Italy from ENI SPA to add to the 1,300 Fina stations it already operates in the southern European country. The new retail stations, which will be Total-branded by year-end, will contribute additional motor fuel sales amounting to nearly 240,000 cu m/year to the Franco-Belgian combine's current annual sales of 2 million cu m.
  • 07/13/2001 -- Pirinc: Natural gas supply problems affect distillate, gasoline markets
    US natural gas supply problems contributed to high distillate prices last winter and high prices for gasoline this spring, said a report from the New York City-based Petroleum Industry Research Foundation Inc.
  • 07/16/2001 -- Dynegy to buy BG Storage, build UK delivery network
    Dynegy Inc., Houston, has agreed to buy BG Storage Ltd. and associated assets from UK company BG Group PLC for £421 million. The deal is subject to regulatory approval. BG said the sale secures the greatest shareholder value for the assets.
  • 07/16/2001 -- Dynegy to acquire major UK gas storage and delivery properties
    Dynegy Inc., Houston, said Monday it will buy $590 million in natural gas storage facilities and related assets from BG Group PLC in the UK. The acquisition replaces construction of 'one or two' power plants in the US, but Dynegy CEO Chuck Watson said the company is not backing off its US strategy.
  • 07/17/2001 -- Tesoro to buy BP refineries in North Dakota, Utah
    Tesoro Petroleum Corp. is buying BP PLC's Salt Lake City, Utah, and Mandan, ND, refineries and associated assets for $677 million, excluding working capital. The deal includes associated North Dakota crude and product pipelines, bulk storage, eight product distribution terminals, and 45 retail gasoline stations.
  • 07/17/2001 -- Sterling Chemicals files Chapter 11
    Sterling Chemicals Holdings Inc. and Sterling Chemicals Inc., Houston, voluntarily filed for Chapter 11 protection for most of the holding company's US operations Monday in US Bankruptcy Court for the Southern District of Texas.
  • 07/17/2001 -- Texas Petrochemicals boosts butadiene capacity
    Texas Petrochemicals LP, Houston, said it has completed modifications to its butadiene extraction systems that have boosted production capacity by 33% to 1.2 billion lb/year. It did not reveal the cost of the modifications.
  • 07/18/2001 -- API says slowing US economy trimmed products demand in first half
    Growth in petroleum products deliveries increased only 1.3% in the first half, reflecting the weakness of the US economy, the American Petroleum Institute said Wednesday. It blamed sharply higher springtime gasoline retail prices and slower national economic growth.
  • 07/18/2001 -- Workers contain acid spill at Delaware refinery
    Workers Wednesday used soda ash injections in an effort to neutralize a sulfuric acid spill resulting from a storage tank fire Tuesday afternoon at the 152,000-b/d Motiva Enterprises LLC refinery in Delaware City, Del.
  • 07/19/2001 -- Kuwait to build two petrochemical plants, spending $3.4 billion
    Kuwaiti oil minister Adel K. Al-Sabeeh said Wednesday that his country planned to build two petrochemical plants by the end of 2005 at a total cost of $3.4 billion. A foreign partner would invest in the plant, he said, but did not disclose the company.
  • 07/19/2001 -- Emergency teams battle acid spill at Motiva's Delaware refinery
    Emergency teams at a Delaware refinery were still struggling Thursday to contain, control, and neutralize a sulfuric acid spill to reach the area where they can begin searching for a worker who's been missing for 2 days.
  • 07/20/2001 -- UDS still evaluating damage to refinery in Three Rivers, Tex.
    Ultramar Diamond Shamrock Corp. said Thursday it was continuing to evaluate the damage to its 98,000-b/d refinery at Three Rivers, Tex. A fire damaged the 7,000-b/d alkylation unit July 9 and injured three persons. The refinery has been closed since.
  • 07/20/2001 -- New Power files PJM complaint with federal regulators
    Rules ensuring reliable electricity service in Pennsylvania, New Jersey, and Maryland discriminate against new market entrants in the region, electricity marketer New Power Co. said in a complaint filed with federal regulators.
  • 07/20/2001 -- Acid leak ended at Motiva's Delaware refinery, cleanup continues
    A sulfuric acid spill is no longer leaking through the cement containment around damaged storage tanks at the Motiva Enterprises LLC refinery in Delaware City, Del., officials said Friday.
  • 07/25/2001 -- Petro-Canada says tax cuts help push second quarter earnings to record
    Petro-Canada, Calgary, achieved best-ever second quarter earnings this year, in part because of a reduction in tax rates in Ontario and Alberta. Net earnings in the second quarter were $326 million (Can.), up from second quarter 2000 net earnings of $259 million.
  • 07/25/2001 -- Union of Concerned Scientists sees California gasoline shortage next year
    The Union of Concerned Scientists said Tuesday that California is headed for a gasoline crisis as early as next spring. In a report, UCS said that despite the recent drop in prices at the pump, California should begin reducing gasoline demand or it may face shortages and price shocks.
  • 07/26/2001 -- Chemical safety board investigates Motiva refinery accident in Delaware
    The US Chemical Safety and Hazard Investigation Board Wednesday dispatched a team to investigate the failure of a storage tank containing spent sulfuric acid at Motiva Enterprises LLC's Delaware City, Del., refinery.
  • 07/30/2001 -- Duke unit seeks FERC approval of $289 million Patriot project
    A unit of Duke Energy Inc. Monday said it filed plans with federal regulators to build the $289 million Patriot extension and an expansion of an existing pipeline that will bring gas to parts of southeast Virginia for the first time. Seven natural gas shippers, representing electric power generators, marketers, and local distribution companies, committed to 87%, or 446 MMcfd, of delivery capacity under long-term contracts.

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